TORONTO – Maple Pictures co-founder Brad Pelman has left Alliance Films six months his company was acquired for $38.5 million as part of a three-way deal that included Lionsgate Entertainment.

Having helped integrate Maple into Alliance Films, Pelman on Thursday said it was time to step down as executive vp and seek out new opportunities.

“The Maple Pictures team and businesses are in capable hands,” Pelman said in a statement.

"I am grateful to the Alliance team and I am pleased to maintain a professional association with Alliance in the future,” he added.

Laurie May, who along with Pelman launched Maple Pictures in April 2005, is remaining with Alliance Films.

Pelman’s departure comes as Alliance Films is also on the auction block after Goldman Sach Capital Partners and Investissement Québec, the investment arm of the Quebec government, hired the Bank of Montreal to shop the Canadian distribution giant to potential buyers.